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Gets revved up about Computrac

RM expects to see sales grow in the full year, thanks in part to the recent purchase of US-based Computrac.

The educational software and services supplier said in an interim management statement today that trading in RM's first three quarters meant the company remained on track to meet expectations for its financial year, which ends 30 September.

It also expects revenues to be plumped up by the government's Building Schools for the Future (BSF) scheme.

However, the firm also pointed out that its final quarter is always the busiest time annually for profit. "Trading in the first three quarters is not a reliable indicator of [the] outcome for the year as a whole," it noted.

RM said it has a five-year, £25m committed bank facility with HSBC, which has four more years left to run. It has additional working capital of £33m. The firm's total net bank borrowings were £8.1m, as of 30 June 2009.

RM bought US-based education technology provider Computrac for £8m in November last year.

Shares in the company are currently trading up three per cent, at 170.00 pence on the London Stock Exchange. ®